Del. High Court Denies Investor Appeal Over $9B Freeport Deal

Law360, Wilmington (February 27, 2013, 9:15 PM EST) -- The Delaware Supreme Court on Tuesday rejected an appeal from Freeport-McMoRan Copper & Gold Inc. shareholders investigating Freeport's $9 billion buy of two energy exploration outfits, thwarting their quest for clarification on when investors should make a books-and-records demand before filing a derivative complaint.

The shareholders sought an interlocutory review of Vice Chancellor John W. Noble's Jan. 25 decision denying their request to stay other litigation over the deal while they completed an investigation of Freeport's corporate records under Section 220 of the Delaware General Corporation...
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